Creative Planning increased its position in shares of Arrow Electronics, Inc. (NYSE:ARW – Free Report) by 9.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,434 shares of the technology company’s stock after buying an additional 696 shares during the quarter. Creative Planning’s holdings in Arrow Electronics were worth $1,208,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ARW. Machina Capital S.A.S. acquired a new position in Arrow Electronics during the first quarter valued at approximately $25,000. Desjardins Global Asset Management Inc. acquired a new position in Arrow Electronics during the first quarter valued at approximately $25,000. Brown Brothers Harriman & Co. acquired a new position in Arrow Electronics during the first quarter valued at approximately $52,000. Steward Partners Investment Advisory LLC boosted its position in Arrow Electronics by 34.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the technology company’s stock valued at $88,000 after purchasing an additional 213 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Arrow Electronics during the second quarter valued at approximately $97,000. 94.79% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on ARW. Bank of America reduced their price target on Arrow Electronics from $155.00 to $148.00 in a research report on Sunday, August 6th. StockNews.com began coverage on Arrow Electronics in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Truist Financial raised their price objective on Arrow Electronics from $131.00 to $138.00 and gave the company a “hold” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $133.67.
Arrow Electronics Stock Performance
ARW opened at $114.65 on Friday. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 1.87 and a beta of 1.42. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 0.65. Arrow Electronics, Inc. has a 12-month low of $93.16 and a 12-month high of $147.42. The business has a 50 day moving average of $127.05 and a 200-day moving average of $128.25.
Arrow Electronics (NYSE:ARW – Get Free Report) last announced its earnings results on Thursday, August 3rd. The technology company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.33 by $0.04. The company had revenue of $8.51 billion for the quarter, compared to analyst estimates of $8.73 billion. Arrow Electronics had a return on equity of 22.19% and a net margin of 3.35%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.78 earnings per share. On average, equities research analysts expect that Arrow Electronics, Inc. will post 16.07 earnings per share for the current year.
Arrow Electronics Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
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